Stefanutti Stocks’ loan repayment extended by one year

The future of unprofitable construction group Stefanutti Stocks remains uncertain despite it reaching an agreement with lenders to extend its loan repayment to the end of February 2023. Although it is restructuring, the company remains technically insolvent.

At a prime interest rate plus 5.4%, it will help the company that is looking to sell noncore assets, underutilised plant and equipment and certain operations while it restructures internally. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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